NUGT Chart: Red Spinning Top formed off MA(100) @ 10.48 resistance.......Fast Sto & Full Sto are in the Power Zone.......Full Sto is forming a rounded top......
The key will be whether or not NUGT can break through MA(100) resistance & head higher in the power zone......NUGT held up well today after the big moves......the 1st moving average support levels are MA's(10, 20, 50).....they should provide solid support on a pullback.....
After forming a double bottom @ the end of June and beginning of July NUGT has been bullish......as long as NUGT can hold Middle Bollinger Band @ 7.34 support the uptrend will continue......
I'll be posting more Gold charts over the weekend.......keep an EYE out for them......will be posting Silver charts as well.......is it time to get defensive?......is gold still a flight to safety play?......will gold break through $1,400 zone and start a Bull rally.......having broken through MA(50) resistance I think it's safe to safe Gold has become much more bulliish......if NUGT turns MA(100) into support look out above........GOLD FEVER WILL BE BACK.........$$$
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